Archive for April, 2009
Blowin’ Some Alameda Sun Up My..
Catchy headline wasn’t it?
Another well written analysis from Dennis Evanosky in today’s “Sun.” Thank you for highlighting the FACTS and debunking the “red-hot rhetoric” that are clouding our ability to rationally think through the decision that is put before us.
To Summarize – Measure A says two things:
- There shall be no dwelling units built in the City of Alameda
- The maximum density for any residential development within the City of Alameda shall be one housing unit per 2,000 square feet of land
- The proposed measure (it’s not even a ballot initiative yet) will NOT repeal Measure A. It exempts the Alameda Point development only.
- The proposed measure adds a new chapter to the General Plan to establish policies at Alameda Point. These policies require any developer to provide certain amenities. It doesn’t mention SunCal explicitly because there is no rock hard, closed deal with SunCal at this time. You don’t want to lock a specific contractor into City law.
- Signing the initiative does not pass the proposed measure – it ONLY gets it on the November ballot.
The rhetoric that citizens who do not live on Alameda Point will be asked to finance the “amenities” with tax dollars is also debunked:
- The redevelopment agency directs all tax increment legally allowed to the property
- It will form a Mello-Roos district that allows the sale of bonds and collection of a special property tax paid solely by Alameda Point property owners and ONLY to finance the improvements
He then goes on to explain what Mello-Roos is – essentially a mechanism that allows special property taxes above and beyond what is allowable by Prop 13. This has been a successful program that has allowed communities to finance improvements and services required by new communities.
Mr. Evanosky’s analysis is the kind of journalism that is sorely needed at this time. Straight, simple, no editorial. It helps us stay focused on what matters in the discussion, and it would seem that what matters to Alameda are the two items I’ve raised on several occasions in this blog:
- Toxic clean up – more than we think, more expensive than all the estimates. What is the contingency plan?
- 4,000-5,000 dwelling units (NOT individual houses) plus numerous business with limited access and a flawed assumption that the people who live on the Point will automagically work on the point will create a traffic nightmare (for Alameda, 880 AND Oakland China Town). Regardless of the density statistics, this still feels like way too much housing. What are the economics of the project if the housing inventory is cut in 1/2?
Thanks, Alameda Sun. I’m feeling you.
Look, Dad, I’m famous!
A short post: It looks like a picture of me handing out “No on 1A” stickers last Sunday is in today’s Chronicle on page B5 — ”B” as in Babylon, of course.
To save all three of this blog’s readers from the trouble of heading over to the corner of Park Street and Santa Clara avenue to buy themselves a copy, I’ll direct you to the image here. It’s part of a barely-related story about the state budget woes.
And yes, I called my Dad (and Mom) to tell them about it. Though the main reason for the call was to wish him a Happy Birthday…
Your weekend: Dining out for life
I know I’m running a little late on this one, folks, but better late than never: Tonight a number of restaurants on the Island and beyond will participate in Dining Out for Life, an annual fundraiser for AIDS service organizations.
Here’s how it works: Eat dinner at a participating restaurant and they’ll donate 25 percent of [...]
Fernside tree hearing tonight
Hey, city watchers! Looked at the city’s website recently and wondered what that generic “public hearing” noticed for tonight is for? Well, we just got a note from the author of the Alamedalorax blog that it’s about those trees the city has said could be cut down along Fernside Avenue.
The tree removal notices are posted [...]
Alameda Lovely Listings
One of my favorite Real Estate websites is Lovely Listing www.lovelylisting.com. The site shows how lazy, both sellers and Real Estate Sales People can be with the photos they post to the Internet. In my quest to reproduce this type of post, I found that Alameda’s listing had pretty good photos.
Tough times for local chamber
Times have been tough for businesses big and small. So perhaps it’s not surprising that the impacts of this unraveling economy would fall on organizations that support businesses, including our local chamber of commerce.
Memberships at the chamber have declined, but the chamber’s director insists the agency is still viable and working hard to promote local [...]
Spotty.us
I have a very large and fuzzy spot in my heart for alternative media, particularly innovative on-line alternatives to the mainstream media. For those tracking the recent comments and pingbacks, you probably would have noticed the trackback from a site called Spot.us. The model is one of “Community Funded Reporting” as in you fund it, [...]
The Island comments: Following the fire
The flames that conquered a dilapidated medical records depot last month shed light on an unsettling truth: Our city lacks the ability to quickly, fully and accurately inform us when a major disaster happens.
When city and air quality officials decided to issue a shelter-in-place advisory for residents a mile downwind of the fire, they opted [...]
Alameda Daily Noose Goes Prime Time
The Alameda Daily Noose and I are proud to announce yet another important milestone in our relentless march to journalistic integrity and beyond. Last night, at 10:56 PM Pacific Daylight Time, we welcomed the 31,033rd visitor* to our soon-to-be-award-winning daily noosepaper, shattering all previous records for the total number of visitors.
Some of our more ignorant readers might find themselves wondering what’s so special about the number 31,033…why not celebrate something more logical, like 31,030 or 31,040? Well, let the Alameda Daily Noose and me try to put it in terms you can understand. Just as Alamedans are divided into two groups called “Right-Thinking Alamedans” and “Enemies Within,” it turns out that numbers are divided into two groups, which mathematicians call “prime” and “chuck.” We’re not exactly sure what the difference is, but it has something to do with how easy they are to cut.
According to our extensive research, not only is 31,033 a prime number, it is the 3,343th prime number, and 3,343 itself is also a prime number, which means that the Alameda Daily Noose and I are now officially double prime. Yes, we can now say with absolute mathematical certainty that we are twice as great as all of the other major news media put together. We always suspected as much, but it’s nice to have it confirmed by hard science.
City Manager Updates Council on Parcel Transfer Tax
I was meaning to write about this topic last week, but all of sudden I lost track of the days and poof a week goes by. During last week’s City Council Meeting Michele Ellson from over at
The Island sent me an email regarding the City Manager’s report on the transfer tax.The interim city manager Ann Marie Gallant reported the transfer tax is projected to bring in $2.6 Million this year. The big news it is less than the $4.1Million they estimated at the beginning of the year.The City Manager stated that as bad as that is, it’s also a good thing because the lack of Parcel Transfer Tax means we’re not seeing as many homes go into foreclosure. And she also said we are not seeing the property tax amount declines many other cities are likely to face this year, which are in the order of 15, 18, and 19 percent.
It is not very surprising that the new estimate has been significantly reduced. January, February and March sales were very slow and April is not looking much better. The City Manager is correct that foreclosures have been slower in Alameda, but they need to plan for an additional wave if Alt-A loan resets and REO properties begin to flood the market.
Math has not always been my strongest subject, but the report of an increase in year-over-year increase is a bit fake-out. Yes it is an increase from the prior year, double the revenue, but if they projected $4.1 million and are now expecting 2.6M isn’t that the real decline for the budget, not the year-over-year?
My favorite comment during the discussion cam from Council Member Lena Tam “An unexpected draconian decline in the real estate market in October of last year . . .” I love the use of the word draconian, but the decline started back in March of 2008 and October just happen to be the one of two up months during the period.
The Council Members did make a point to remind voters that if they not pass measure P the problem would have been twice as worst. Instead of doubling the Parcel Transfer Tax they would have seen decline of $800-$900,000.
I think that the revised $2.6 Million may be on the optimistic side given that sales have not seen a bump at all. To hit the new target Alameda would need to see nearly $217 Million in property sales. The Multiple Listing Service recorded $19.5 Million in sales for the first three months of 2009. The good news is that April is shaping up to be a good month with over $13 Million in sales with two days left in the month. For what I can assess from the sales pattern that puts the Island on track for total sales between $78 and $137 Million.
At $137 Million that would bring in a little more than $1.6 Million in revenue. Just a small warning about reading the numbers, the Multiple Listing Service is good to get a handle on this, but the MLS does not record all sales, especially commercial property. But frankly I do not see another $70 Million in sales unless the market makes a dramatic shift.
